Mid-Year Adjustment Sample Clauses

Mid-Year Adjustment. In addition to the annual adjustment, the TRUST may implement a mid-year adjustment to the Facility O&M Fees in any given Contract Year when the TRUST determines that the current costs are estimated to be ten percent (10%) lower or higher than budget set for Facility O&M Fees during the same period of the then Contract Year. TRUST will notify and hold a consultation meeting with the On Airport RAC’S at least thirty (30) days prior to the implementation of a mid-year adjustment, at which time the effective date for such rate adjustment will be provided.
Sample 1Sample 2
AutoNDA by SimpleDocs
Mid-Year Adjustment. To allow for a projected change in the maximum sale price between publication dates of the AMI, the maximum sale price may be changed by a "mid-year adjustment" calculated as follows: 1. The City-approved purchase price paid by Owner, multiplied by the following estimate of the as yet unpublished change in the AMI: One-half of the average annual percentage change in the AMI over the previous two years divided by twelve and multiplied by the number of months between the last publication of the AMI and the date of sale of the unit. Note: this adjustment is based on “one-half of the average” in order to apply a conservative estimate of the change in the AMI. 2. However, no mid-year adjustment shall be included unless at least four months have passed between the last publication of the AMI and the date of calculation of the sale price of the Property. 3. If the "mid-year adjustment" is included in the sale price at any sale, on the next sale the price calculation will be adjusted as follows: the amount of mid-year adjustment which was included in the price paid by Owner shall be subtracted from the price paid by owner. This is to assure that the price is not changed by both the mid-year adjustment (which is based on a future estimate of the AMI), and the actual change in the AMI which later became known. For Owners not in violation of the Covenant, the City’s policy is that an Owner’s calculated maximum resale price will not be less than their purchase price. However, the maximum calculated sale price is not a guarantee that the Owner will be able to sell for that price due to market conditions or due to specific project requirements. If the Property sells for less than the maximum calculated sales price, such lower price becomes the basis for the calculation of the maximum sale price upon the next sale of the Property.
Sample 1
Mid-Year Adjustment. Subject to sub- 20 sections (i)(1)(B) and (k), for each fiscal year, the 21 Commission shall determine, by March 1 of such fis- 22 cal year, whether, based on the actual aggregate dol- 23 lar volume of sales during the first 5 months of such 24 fiscal year, the baseline estimate of the aggregate 25 dollar volume of sales used under paragraph (1) for 1 such fiscal year is reasonably likely to be 10 percent 2 (or more) greater or less than the actual aggregate 3 dollar volume of sales for such fiscal year. If the 4 Commission so determines, the Commission shall by 5 order, no later than March 1, adjust each of the 6 rates applicable under subsections (b) and (c) for 7 such fiscal year to a uniform adjusted rate that, 8 when applied to the revised estimate of the aggre- 9 gate dollar amount of sales for the remainder of 10 such fiscal year, is reasonably likely to produce ag- 11 gregate fee collections under this section (including 12 fees collected during such five-month period and as- 13 sessments collected under subsection (d) of this sec- 14 tion) that are equal to the regular appropriation to 15 the Commission by Congress for such fiscal year. In 16 making such revised estimate, the Commission shall, 17 after consultation with the Congressional Budget Of- 18 fice and the Office of Management and Budget, use 19 the same methodology required by subsection (l). 20 ‘‘(3) REVIEW.—In exercising its authority 21 under this subsection, the Commission shall not be 22 required to comply with the provisions of section 553 23 of title 5, United States Code. An adjusted rate pre- 24 scribed under paragraph (1) or (2) and published 1 under subsection (g) shall not be subject to judicial
Sample 1
Mid-Year Adjustment. Any salary adjustment made on February 28 shall be paid only for those contract days between February 1 and the end of the school year.
Sample 1

Related to Mid-Year Adjustment

  • CPI Adjustment At the end of the first Lease year (as hereinafter defined) and every Lease year thereafter (including any renewal periods) the Base Rental provided for in Paragraph 3 above shall be adjusted by adding to Base Rental the "Add-on Factor". The one (1) year periods are each hereinafter referred to as an "Adjustment Period". As used herein, the "Add- on Factor" shall mean the "Add-on Sum" minus "Net Base Rental"; "Add-on Sum" shall mean a sum determined by multiplying the "Net Base Rental" by the "Adjustment Factor"; "Net Base Rental" shall mean the Base Rental described above minus Initial Basic Cost, and "Adjustment Factor" shall mean a fraction, the numerator of which is the "CPI" published immediately preceding the applicable anniversary date and the denominator of which is the "CPI" published immediately preceding the commencement date of the term of this Lease. "CPI" shall mean the United States Average (1982-84 '" 100), as published bi-monthly (or if the same shall no longer be published bi-monthly, on the most frequent basis available) by the Bureau of Labor Statistics, U.S. Department of Labor (but if such is subject to adjustment later, the later adjusted index shall be used). The Adjusted Rental shall be the new Base Rental of the Premises effective as of the first day of the applicable Adjustment Period. Notwithstanding the foregoing calculation, the yearly percentage rent adjustment pursuant to this Paragraph 9 shall in no event be less than FIVE percent (5%) per year. Tenant shall continue payment of the Base Rental in effect for the expiring Adjustment Period until notified by Landlord of any increase in such Base Rental. Such notification shall include a memorandum showing the calculations used by Landlord in determining the new Base Rental. On the first day of the calendar month immediately succeeding receipt of such notice, Tenant shall commence payment of the new Base Rental spedfied in the notice, and shall also pay to Landlord with respect to the month(s) already expired, the excess of the required monthly rentals spedfied in the notice over the monthly amounts actually paid by Tenant.

  • Salary Adjustment The salary of an employee returning from uncompensated leave shall be adjusted to reflect all non-discretionary increases distributed during the period of leave. While on such leave, an employee shall be eligible to participate in any special salary incentive programs.

  • Year-End Adjustment If necessary, on or before the last day of the first month of each fiscal year, an adjustment payment shall be made by the appropriate party in order that the amount of the investment advisory fees waived or reduced and other payments remitted by the Adviser to the Fund or Funds with respect to the previous fiscal year shall equal the Excess Amount.

  • Payment and Year-End Adjustment Amounts accrued pursuant to this Agreement shall be payable to the Adviser as of the last day of each month. If necessary, on or before the last day of the first month of each fiscal year, an adjustment payment shall be made by the appropriate party in order that the actual Fund Operating Expenses of a Fund for the prior fiscal year (including any reimbursement payments hereunder with respect to such fiscal year) do not exceed the Maximum Annual Operating Expense Limit.

  • True-Up Adjustments From time to time, until the Retirement of the Recovery Bonds, the Servicer shall identify the need for True-Up Adjustments and shall take all reasonable action to obtain and implement such True-Up Adjustments, all in accordance with the following:

  • Tax Adjustment Tenant shall pay, as Additional Charges, an amount (hereinafter referred to as the “Tax Adjustment Amount”) equal to Tenant’s Expense Share of the amount of Taxes incurred with respect to each Lease Year; except that Tenant shall be required to pay only a pro rata amount of the Tax Adjustment Amount for the Lease Years in which the first and last days of the Term occur pro rated on a per diem basis. Tenant shall not, however, have any right to audit Landlord’s books and records pertaining to Taxes. The Tax Adjustment Amount with respect to each Lease Year shall be paid in monthly installments in advance on the first day of each and every calendar month during such Lease Year, commencing on the Commencement Date, in an amount estimated from time to time by Landlord and communicated by written notice to Tenant. Following receipt of actual tax bills, Landlord shall deliver to Tenant a statement setting forth (i) the actual Tax Adjustment Amount for such Lease Year; (ii) the total of the estimated monthly installments of the Tax Adjustment Amount paid to Landlord for such Lease Year; and (iii) the amount of any excess or deficiency with respect to such Lease Year. Tenant shall pay any deficiency to Landlord as shown by such statement within 30 days after receipt of such statement. If the total of the estimated monthly installments paid by Tenant during any Lease Year exceeds the actual Tax Adjustment Amount due from Tenant for such Lease Year, at Landlord’s option such excess shall be either credited against payments next due hereunder or refunded by Landlord, provided Tenant is not then in default hereunder.

  • Salary Adjustments At any time during the term of this Contract, the Board may, in its discretion, review and adjust the salary of the Superintendent, but in no event shall the Superintendent be paid less than the salary set forth in Section 3.1 of this Contract except by mutual agreement of the two parties. Such adjustments, if any, shall be made pursuant to a lawful Board resolution. In such event, the parties agree to provide their best efforts and reasonable cooperation to execute a new contract incorporating the adjusted salary.

  • Section 754 Adjustment To the extent an adjustment to the adjusted tax basis of any Partnership asset pursuant to Code Section 734(b) or Code Section 743(b) is required, pursuant to Regulations Section 1.704-1(b)(2)(iv)(m)(2) or Regulations Section 1.704-1(b)(2)(iv)(m)(4), to be taken into account in determining Capital Accounts as the result of a distribution to a Holder in complete liquidation of his interest in the Partnership, the amount of such adjustment to the Capital Accounts shall be treated as an item of gain (if the adjustment increases the basis of the asset) or loss (if the adjustment decreases such basis) and such gain or loss shall be specially allocated to the Holders in accordance with their interests in the Partnership in the event that Regulations Section 1.704-1(b)(2)(iv)(m)(2) applies, or to the Holders to whom such distribution was made in the event that Regulations Section 1.704-1(b)(2)(iv)(m)(4) applies.

  • Royalty Adjustments The following adjustments shall be made, on a Licensed Product-by-Licensed Product and country-by-country basis, to the royalties payable pursuant to this Section 5.5:

  • Annual Adjustment At the end of each Fiscal Year and following receipt by Manager of the annual accounting referred to in Article 10, an adjustment will be made to such annual account, if necessary and if available, so that the appropriate amount shall have been deposited in the Reserve.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!